The global cryptocurrency market unexpectedly sparked into life on Thursday despite negative inflation data following the US Consumer Price Index (CPI) being released.
The news that inflation was once again 8.2% prompted a quick and drastic sell-off of coins - with Bitcoin dropping to a low of $18,319.82 - before an unexpected and massive recovery in both the crypto and traditional markets.
BTC pumped to $19,835.17 – an 8.2% gain on the low – in 12hrs with volume surging by 76% on the previous day.
As CryptoNews reported earlier on Friday, many Bitcoin traders and analysts are expecting more short-term gains with $21,000 in play.
The total crypto market saw a 5% increase to $950 billion as volume reached $355 billion - marking just the second time volume had beaten $300 billion since early August.
A number of altcoins have been performing even better:
Ethereum Name Service (ENS)
Ethereum Name Service (ENS) was arguably the top performing coin on Thursday and Friday, reaching highs...
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